Total for land sales reported of $12,529,767 USD, -14% down from prior year. There were 41 sold transactions with an average sale of $303,804 USD. Sales were an average of 89% off list. Total inventory was 429 lots.
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Influence of Behavioural Bias
The Irrational and Emotional in Real Estate MarketsNick Armet writes about investments for a UK firm. He has interesting views on our emotional connection to real estate. Here are some: The asset class of real estate demonstrates a pronounced influence of behavioral bias. Real estate is a highly emotive asset in most cultures. This can help explain phases of ‘irrational exuberance’ in property markets where prices move away from fundamentals.
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TAKING RESPONSIBILITY
What Rights and Representation Do Buyers and Sellers Deserve?This article is about pre-construction, new developments, as well as resales. There is a particular ethical and moral way in which buyers and sellers should deal with each other, and most of the time, the person who has to keep the negotiation on this level is the agent (agents) involved.
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Is real estate an emotional asset?
Behavioral Bias in Real EstateEmotional Asset – Do Herding and Groupthink Move Prices? One of the most interesting asset classes where we see pronounced influence of behavioral biases is in real estate. Real estate is a highly emotive asset in most cultures. This can help explain phases of ‘irrational exuberance’ in property markets where prices move away from fundamentals.
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Harriet Murray
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